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Spector, Roseman & Kodroff, P.C. Announces Class Action Suit Against Ulta Salon, Cosmetics & Fragrance, Inc.

PHILADELPHIA -- Ticker symbol Ticker Symbol

An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors
 in the first graph, first sentence of release should read: (Nasdaq:ULTA ULTA Utah Land Title Association
ULTA Union Leaders Training Award
ULTA Union Labor Temple Association
) (sted (Nasdaq:UKTA)).

The corrected release reads:

SPECTOR, ROSEMAN & KODROFF, P.C. ANNOUNCES CLASS ACTION SUIT AGAINST ULTA SALON, COSMETICS & FRAGRANCE, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic.

Antonym: dec.

The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit class action lawsuit

A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax
 was commenced in the United States District Court for the Northern District of Illinois The United States District Court for the Northern District of Illinois is the Federal district court whose jurisdiction comprises the following counties, divided into two divisions: , on behalf of purchasers of the common stock of Ulta Salon, Cosmetics & Fragrance, Inc. ("Ulta" or the "Company") (Nasdaq:ULTA) pursuant or traceable to the Company's October 25, 2007 Initial Public Offering (the "IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. " or the "Offering") through December 10, 2007 inclusive (the "Class Period").

The Complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission during the Class Period. Specifically, the Complaint alleges that: (1) that the Company was unable to effectively manage inventory, resulting in a 40% increase of inventory; (2) that the Company's SG&A, as a percentage of net sales Net Sales

The amount a seller receives from the buyer after costs associated with the sale are deducted.

This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight
, had increased in the third quarter, largely a result of previously undisclosed increased advertising expenses; (3) that the Company failed to disclose any material information about third quarter 2007 earnings in the Company's Registration Statement, despite the fact that the third quarter was to end nine days after the filing of the Registration Statement; and (4) that the Company lacked adequate internal and financial controls.

On October 25, 2007, the Company conducted its initial public offering ("IPO") through a Registration Statement and Prospectus Through the IPO, the Company sold 8.54 million shares of stock at $18 per share, raising over $153 million. At the close of business on October 25, 2007, Ulta's stock had increased $11.82 per share to $29.82, representing a 65.67% increase from the IPO price.

In its Prospectus and throughout the Class Period, Ulta reported its financial results from its first and second quarters of 2007, implying that consistent trends in expenses and inventory levels would continue. The Company failed, however, to make any significant reference to the third quarter 2007, which was to close on November 9, 2007, nine days after the Registration Statement was issued.

Then on December 11, 2007, Ulta released its third quarter 2007 fiscal results. The Company revealed that it had an additional $15 million of seasonal inventory, and that its selling, general, and administrative expenses ("SG&A") had increased 36% to $55.6 million, due largely to increased expenditure for advertising. On this news, shares of the Company's stock declined $6.59 per share, or 23.96 percent, to close on December 11, 2007 at $20.91 per share, on unusually heavy trading volume Trading volume

The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares.

If you purchased Ulta securities during the Class Period, you may, no later than February 19, 2008, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, which acts on behalf of other class members in directing the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms (Alg.) such as are known, or which do not contain the unknown quantity.

See also: Absolute
 and as a percentage of their net worth.

If you have sustained substantial losses in Ulta securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.

If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or e-mail at For more detailed information about the firm please visit its website at

Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... , and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.
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Publication:Business Wire
Date:Jan 14, 2008
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